Thursday, 21 February 2013

Today Indian stock market declined fifty share index Nifty hovered between 5844.40- 5921.15. The index is showing negative view only 2 stocks gained out of 50 stocks. Sunpharma closed near 52 week high ad Cipla gain 0.18%.

CNX Metal index declined 3.02%, Jindal steel and Tata steel fall near 4%, both stocks traded near to 52 week low level and very closed to breakdown level.  In other metal stocks Sesa Goa, Hindalco down 3%.

Bank, Realty and infra stocks performed worst today. Reliance infra, ICICI Bank, PNB, Bank of Baroda and JP Associates shares bearish today.

Nifty traded negative bias, Expected to open lower on Friday. On down side it may take intraday support at 5818 and Resistance above 5886.00 level.   Nifty is likely to be trading in range of 5950-5880.

Trading tips

Sell Nifty Future Feb Target 5848/5846 stop loss 5854.
Buy  Jindal Steel Future Feb28 Target 359/362 Stop loss 350.00.
Buy ICICI Bank Future Feb Target 1090/1098 stop loss 1072.00.
Sell Tata steel Future Feb Target  363/362 stop loss 367.



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